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b'Hari Krishnan, head of volatility strategies at SCT Capital, joins Jack for a wide-ranging discussion on central banks, derivatives, and market structure. Hari shares his knowledge on everything from interest rate swaps to the demise of FTX, and he argues that short-expiry options are structurally cheaper than options with longer-dated tenors. Lastly, Hari and Jack exchange thoughts on what it means to attain true expertise in a specific market discipline.\\xa0\\n\\nFollow Hari Krishnan on Twitter https://twitter.com/HariPKrishnan2\\nFollow Jack Farley on Twitter https://rb.gy/uesguv\\nFollow Forward Guidance on Twitter https://rb.gy/cy0dki\\nFollow Blockworks on Twitter https://rb.gy/igyzsj\\nHari Krishnan\\u2019s book, \\u201cMarket Tremors\\u201d: https://rb.gy/4l3yhj\\n--\\nThis episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time \\xae, create Smart Rules, and more. Apply now through https://fgpodcast.link/curve, you\\u2019ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.\\n--\\nGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:\\nhttps://rb.gy/5weeyw\\n\\nMarket commentary, charts, degen trade ideas, governance updates, token performance, can\\u2019t-miss-tweets and more. Subscribe to the Blockworks Research \\u201cDaily Debrief\\u201d Newsletter:\\nhttps://rb.gy/feusos\\n\\nFind out more about the Blockworks video editor role here: https://blockworks.co/careers/\\n--\\nTimestamps:\\n\\n(00:00) Introduction\\n(01:24) \\u201cDominant Agents" In Finance\\n(04:49) Are Central Banks Really That Powerful?\\n(13:26) The Shadow Banking System\\n(17:28)\\xa0The Effect Of Interest Rate Changes By Central Banks\\n(19:12) Curve Ad\\n(25:05) Why Are Swap Spreads Negative?\\n(27:16) Crypto Contagion & The Fall of FTX\\n(38:56) Leverage Within Crypto\\n(42:45)\\xa0Anti-hedging In Bitcoin Miners\\n(44:36) Volatility In 2022\\n(58:08) The Next Phase Of This Bear Market\\n(01:04:27) The Role Of Macro\\n--\\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.'